The following are criteria for the student loan programs administered and funded solely by Conservation Employees Credit Union. 

         The student must be enrolled on a full-time basis in an accredited college or University or an accredited technical training program.

         Proof of enrollment, a letter from admissions, is required.

         Loans under this program will normally require a qualified co-maker. However, if the applicant is employed full-time, has an acceptable debt to income ratio, and an established credit report, this requirement could be waived.

         All applicants must reapply and establish credit worthiness each year.

         All applicants must be a member of the credit union.

         The credit union must be notified immediately when a student leaves an educational program.

         Must choose one program option per calendar year.

Option 1
Interest Only Payment
 While enrolled in school

• Rate 6.00%.

         A student may borrow up to a maximum of $5,000 per calendar year. No student may carry more than $20,000 in principal under this program.

         Interest only at the rate of 6.00% must be paid semi-annually while the student is satisfactorily enrolled in an approved program.

         Makers agree to commence monthly payments of principal and interest beginning 6 months following the earliest of:

(a) undergraduate graduation

(b) discontinuation of enrollment

(c) five years from the date of the loan

         The only exceptions to the foregoing shall be that:

                 If, following discontinuation of undergraduate enrollment prior to graduation, a maker supplies proof of re-enrollment, maker will be required to make only semi-annual interest payments and will not be required to start or continue with monthly principal and interest payments until six (6) months following the future occurrence of (a), (b), or (c), whichever occurs first; and

            Persons enrolled in graduate school shall not be required to commence monthly payments until six (6) months after obtaining a graduate degree or discontinuation of enrollment, whichever occurs first.

         Repayment can be amortized for a period of 10 years.

FOR AN APPLICATION CLICK HERE

         Option 2
Principal and Interest Payment
While enrolled in school

 Rate 5.00%.

Ö        The student may borrow up to a maximum of $12,500 per calendar year. 

Ö        No student may carry more than $50,000 in principal under this program.

Ö        Interest and Principal payment will begin within 45 days of loan disbursement.

Loan shall not exceed a term of 5 years.

          FOR AN APPLICATION CLICK HERE

Student Consolidation Loan

• Consolidation of Student loans from other financial institutions after graduation.
• Loan shall not exceed a term of ten years
• Loan rate same as option 1 student loan interest rate
• Loan shall not exceed a maximum of $20,000.00.
• Loans under this program will normally require a qualified co-maker. However, if the applicant is employed full-time, has an acceptable debt -to -income ratio, and an established credit report, this requirement could be waived.
  
  Rate 6.00%